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Copyright 2008 Reuters en-us Tue, 21 May 2013 13:03:06 -0400 5 /resources/images/mobile/small/logo.png 120 35 http://mobile.reuters.com/category/tokyoMktRpt?irpc=932 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E20XG20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Real estate and banks weak on sector rotation - analyst * Retail investors pick up underperformers such as Sharp, TEPCO * SoftBank slips, Sprint permitted discussions with Dish By Ayai Tomisawa TOKYO, May 21 (Reuters) - Japan's Nikkei share average edged up to a fresh 5-1/2-year high on Tuesday, reversing earlier losses, as retail investors scooped up underperforming stocks such as Sharp Corp and Tokyo Electric Power Co Inc . Trading was choppy, with the Nikkei moving in and out of negative territory before ending up 0.1 percent to 15,381.02 -- the highest closing level since December 2007. During the day, it rose as high as 15,388.37, its best mark since the same time. Investors remained cautious ahead of U.S. Federal Reserve Chairman Ben Bernanke's appearance at a Congressional hearing on Wednesday, while buying was also partially restrained by the market's sharp spike over the past two weeks. The benchmark Nikkei has rallied nearly 48 percent this year on the back of aggressive government and central bank policies to revive the economy, and it has soared more than 8 percent since May 9, when the dollar broke above the 100-yen mark.. The yen last traded at 102.54 to the dollar, rebounding from a 4-1/2-year low of 103.32 hit on Friday. "There was some sector rotation... investors sold recent gainers such as real estate and banking stocks to buy material shares like steel companies," said Nobuhiko Kuramochi, a strategist at Mizuho Securities Traders said that institutional investors stayed on the sidelines on Tuesday while retail investors picked up underperforming stocks such as Sharp Corp and Tokyo Electric Power Co Inc. "A lot of the laggards in the once hated stocks, like Sharp, TEPCO, Mitsubishi Motors, Kobe Steel and Tokuyama, are up on double-digits," said a senior trader at a foreign bank. Sharp rose as much as 15 percent before ending up 8.7 percent, while TEPCO ended 12 percent higher and Mitsubishi Motors Corp jumped 34 percent. Kobe Steel Ltd and chemical manufacturer Tokuyama Corp soared 19 percent and 14 percent, respectively. The real estate sector was down 2.8 percent and was the worst sectoral performer, with Mitsui Fudosan Co dropping 3.0 percent and Mitsubishi Estate Co shedding 2.3 percent. Banks were weaker, with Sumitomo Mitsui Financial Group falling 1.5 percent and Mizuho Financial Group sliding 0.9 percent. For investors, Bernanke's testimony is shaping up as a pivotal market event given the growing speculation that the Fed may roll back its stimulus programme sooner than expected. The focus was also on the Bank of Japan's two-day meeting, which concludes on Wednesday. The central bank is expected to stand pat on monetary policy, but it may seek ways to calm the bond market after the recent shakeout that saw a sharp spike in yields. The broader Topix gained 0.1 percent to 1,270.39 in heavy trade, with 6.25 billion shares changing hands, the highest level since April 5. Other notable movers on Tuesday included SoftBank Corp , down 3.8 percent. U.S. wireless operator Sprint Nextel Corp said it has received a waiver from SoftBank allowing it to engage with Dish Network Corp in discussions over a proposed offer, although Sprint said its recommendation in favour of the SoftBank offer has not changed. Tue, 21 May 2013 03:07:04 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E20XG20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E210T20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 21 (Reuters) - Japan's Nikkei share average edged up to a fresh 5-1/2-year high on Tuesday, reversing earlier losses, as retail investors scooped up underperforming stocks such as Sharp Corp and Tokyo Electric Power Co Inc . The Nikkei rose 0.1 percent to 15,381.02, the highest closing level since December 2007, after being in and out of negative territory in choppy trade. During the day, it rose as high as 15,388.37, its best mark since the same time. Sharp surged 8.7 percent and Tokyo Electric 12.3 percent. The broader Topix gained 0.1 percent to 1,270.39. Tue, 21 May 2013 02:07:25 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E210T20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E20IF20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Retail investors pick up underperformers such as Sharp, TEPCO * Sony Financial falls after earnings guidance disappoints * SoftBank slips, Sprint permitted discussions with Dish By Dominic Lau TOKYO, May 21 (Reuters) - Japan's Nikkei share average hit a 5-1/2-year high on Tuesday, reversing earlier losses as retail investors scooped up underperforming stocks such as Sharp Corp and Tokyo Electric Power Co Inc. By the midday break, the Nikkei inched up 0.1 percent to 15,369.13 after trading as high as 15,388.37, its best mark since December 2007. The index was down as much as 0.6 percent earlier in the session on profit-taking after Wall Street finished flat. "Institutional investors are actually rather quiet today. It seems to be more retail-investor-driven today," a senior trader at a foreign bank said. "A lot of the laggards in the once hated stocks, like Sharp, TEPCO, Mitsubishi Motors, Kobe Steel and Tokuyama, are up on double-digits." Sharp, TEPCO, Mitsubishi Motors Corp, Kobe Steel Ltd and chemical manufacturer Tokuyama Corp soared between 11.7 and 21.2 percent. Tepco was the most traded stock on the main board by turnover, followed by Sharp and Mitsubishi Motors. The benchmark Nikkei has rallied nearly 48 percent this year on the back of aggressive government and central bank policies to revive the economy, and it has risen more than 8 percent since May 9, when the dollar broke above the 100-yen mark. The yen last traded at 102.53 to the dollar on Tuesday, rebounding from a 4-1/2-year low of 103.32 hit on Friday. Japanese shares carry a 12-month forward price-to-earnings ratio of 15.9, a level not seen since May 2010 but still below its 10-year average of 16.3, data from Thomson Reuters Datastream showed. "One recent trend is that investment trusts are big buyers in the market," said Jun Yunoki, an analyst at Nomura Securities. "As the market is going up, the momentum is gaining for them to invest in Japanese stocks." Another trader said many investors were focusing on the Bank of Japan's two-day meeting, which concludes on Wednesday. The central bank is expected to stand pat on monetary policy, but it may seek ways to calm the bond market over the recent volatility it has experienced. The broader Topix index gained 0.3 percent to 1,272.66 in active trade, with volume at 93 percent of its full daily average for the past 90 trading days. As stocks rallied, the spread between Topix's dividend yield and the 10-year Japanese government bond yield narrowed to 0.70 percent on Monday, a level not seen since April 2011, according to Datastream. Other notable movers on Tuesday included SoftBank Corp , down 3 percent. U.S. wireless operator Sprint Nextel Corp said it has received a waiver from SoftBank allowing it to engage with Dish Network Corp in discussions over a proposed offer, although Sprint said its recommendation in favour of the SoftBank offer has not changed. Sony Financial Holdings Inc dropped 2 percent after it forecast a net income of 37 billion yen for the current business ending March 2014, below an average of 43.05 billion yen from 11 analysts polled by Thomson Reuters I/B/E/S. Mon, 20 May 2013 23:06:20 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E20IF20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E205T20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Sony Financial falls after earnings guidance disappoints * SoftBank slips, Sprint permitted discussions with Dish By Dominic Lau TOKYO, May 21 (Reuters) - Japan's Nikkei average eased from a 5-1/2-year high on Tuesday after Wall Street gave up earlier gains to end flat and the dollar slipped against the yen on caution before U.S. Federal Reserve Chairman Ben Bernanke fronts a Congressional hearing. The Nikkei slipped 0.2 percent to 15,337.42. The benchmark has rallied 47.5 percent this year, and it has risen 8 percent since May 9, when the dollar broke above the 100-yen mark. "There is a little bit of profit-taking. There was a little bit of weakness in the U.S.," said a senior dealer at a foreign brokerage, noting that the underlying tone of the market remained firm. U.S. stocks ended little changed on Monday, with indexes hovering near record levels as concerns about a correction wiped out earlier gains made on a flurry of acquisitions. The Bank of Japan is expected to stand pat on monetary policy when it concludes a two-day meeting on Wednesday, but it may seek ways to calm the bond market over the recent volatility it has experienced. Bernanke's testimony in Congress on Wednesday was also a focus for global financial markets after recent comments by Fed officials drove speculation the U.S. central bank could trim its asset purchase programme sooner than first thought. The yen last traded at 102.47 yen to the dollar on Tuesday, rebounding from a 4-1/2-year low of 103.32 hit on Friday. But there are signs that many firms in export-driven Japan Inc, having got the weaker yen they craved, now want the currency to either stabilise or recover ground, rather than continue a slide that will increasingly raise their costs. The broader Topix index was flat at 1,269.77. SoftBank Corp lost 1.6 percent. U.S. wireless operator Sprint Nextel Corp said it has received a waiver from SoftBank allowing it to engage with Dish Network Corp in discussions over a proposed offer, although Sprint said its recommendation in favour of the SoftBank offer has not changed. Sony Financial Holdings Inc dropped 2.7 percent after it forecast a net income of 37 billion yen for the current business ending March 2014, below an average of 43.05 billion yen from 11 analysts polled by Thomson Reuters I/B/E/S. In terms of valuations, Japanese equities carry a 12-month forward price-to-earnings ratio of 15.9, a level not seen since May 2010 but still below its 10-year average of 16.3, according to Thomson Reuters Datastream. Mon, 20 May 2013 21:17:57 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E205T20130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E200720130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 21 (Reuters) - Japan's Nikkei share average eased from a 5-1/2-year high on Tuesday as Wall Street ended flat and the dollar slipped against the yen on caution before U.S. Federal Reserve Chairman Ben Bernanke's testimony. The Nikkei fell 0.6 percent to 15,269.85, while the broader Topix index dipped 0.2 percent to 1,266.71. Mon, 20 May 2013 20:03:28 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E200720130521?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E13DN20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 21 (Reuters) - Japan's Nikkei share average is expected to pull back from a 5-1/2-year high on Tuesday as Wall Street ended flat and the dollar slipped against the yen on caution before U.S. Federal Reserve Chairman Ben Bernanke's testimony. The Nikkei is likely to trade between 15,250 and 15,400, strategists said. Nikkei futures in Chicago closed at 15,320 on Monday, down 0.5 percent from the Osaka close. Expectations have grown that Bernanke may hint at tapering U.S. bond purchases in his testimony to Congress on Wednesday. Recent comments by Fed officials have fuelled speculation the U.S. central bank could trim its purchases sooner than expected. The yen was last traded at 102.11 yen to the dollar on Tuesday, rebounding from a 4-1/2-year low of 103.32 hit on Friday. "Profit-taking will be dominant in the Tokyo market today. But the downside will be supported because there are many investors who didn't purchase stocks in the sharp rally who will come in to the market," said Takashi Hiroki, chief strategist at Monex Inc. U.S. stocks ended little changed on Monday, with indexes hovering near record levels as concerns about a correction wiped out earlier gains made on a flurry of acquisitions. On Monday, the Nikkei climbed 1.5 percent to 15,360.81, its highest since December 2007. The broader Topix index advanced 1.3 percent. The benchmark Nikkei has rallied 48 percent this year, and it has risen more than 8 percent since May 9, when the dollar broke above the 100-yen mark. But signs are that most firms in export-driven Japan Inc, having got the weaker yen they craved, now want the currency to either stabilise or recover ground, rather than continue a slide that will increasingly raise their costs. In terms of valuations, Japanese equities carry a 12-month forward price-to-earnings ratio of 15.9, a level not seen since May 2010 but still below its 10-year average of 16.3, according to Thomson Reuters Datastream. > Wall St ends flat on correction worries > U.S. dollar retreats broadly on caution before Bernanke > Treasuries slip as investors await Fed > Silver and gold lurch higher after early dive > Oil ends higher on weaker dollar, supplies weigh STOCKS TO WATCH --SOFTBANK CORP SoftBank is seeking to raise about 400 billion yen ($3.9 billion) through a sale of retail bonds to finance its bid for No. 3 U.S. mobile phone carrier Sprint Nextel Corp, the Nikkei reported. Mon, 20 May 2013 19:11:03 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E13DN20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E114Z20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Mitsubishi Motors, Nissan soar on minicar growth hope * Improved assessment of economy lifts mood * Interest rate sensitive stocks fall on rising yield * Report of Japan-India resuming talks on nuclear co-operation pact buoys By Ayai Tomisawa TOKYO, May 20 (Reuters) - The Nikkei share average surged to a fresh 5-1/2 year high on Monday, buoyed by further weakness in the yen and optimism over the growth outlook after the Japanese government raised its assessment of the economy for the first time in two months. Signs of an improving U.S. economy and Wall Street's record closing high on Friday cemented the positive mood in markets. The Nikkei climbed 1.5 percent to 15,360.81, the highest closing mark since December 2007. During the day, the index rose as high as 15,381.74, the highest level for the same period. The Nikkei has gained 48 percent this year, and it has added more than 8 percent since May 9, when the dollar broke above the 100-yen level. The government's monthly report said that economy is gradually recovering, which was an upgrade from last month, when it said the economy was showing signs of recovery but still had some weak spots. The upgrade highlights the success of Prime Minister Shinzo Abe's policies, which combine stimulus spending with aggressive monetary easing to pump-prime the economy and are resulting in a sharp weakening of the yen. Exporters, the chief beneficiaries of a weak yen, advanced. Toyota Motor Corp rose 1.9 percent, Sony Corp jumped 5.7 percent and Komatsu Ltd advanced 1.7 percent after the dollar broke above the 103-yen level on Friday buoyed by strong U.S. consumer sentiment data. The dollar has pulled back to trade at 102.65 yen, but not far from its 4-1/2 year high of 103.32 tapped on Friday "It's not like we don't think of the possibility of a pullback given the recent rises in the market, but both domestic and overseas economies are recovering, so the market will probably keep rising," said Fujio Ando, an analyst at Chibagin Securities. Adding to the positive mood was a Nikkei report that Japan and India are expected to agree at their summit meeting this month to resume talks toward a civilian nuclear cooperation pact. Manufacturers of nuclear reactors benefited on the report, with Toshiba Corp up 4.6 percent, Mitsubishi Heavy Industries rising 3.6 percent higher and Hitachi Ltd rising 2.6 percent. In the auto sector, Mitsubishi Motors Corp surged 12 percent and Nissan Motor Co rose 5.6 percent after Mitsubishi Motors' President Osamu Masuko told reporters that the two companies hope to account for 20 percent of the minicar market. The broader Topix gained 1.3 percent to 1,269.51 in relatively heavy trade, with 4.87 billion shares changing hands. It compares with last month's average daily volume of 4.31 billion shares. Friday's upbeat consumer confidence data from the United States, Japan's major export market, has helped underpin the Nikkei in recent sessions. "In the next few days, the Nikkei's levels at 15,600 and higher are in sight," said Hiroyuki Fukunaga, the chief executive of Investrust. Analysts said the weakening yen has seen investors becoming increasingly confident about the prospects for higher Japanese corporate earnings for the fiscal year through March. They expect an average operating profit rise of 30 percent from the previous year, compared with the companies' conservative forecasts of a 20 percent increase in their operating profits. Bucking the market, interest rate sensitive stocks lost ground after the yield on the 10-year cash bonds rose four basis points to 0.840 percent after rising as high as 0.875 percent. Mitsubishi Estate Co fell 2.3 percent and Mitsui Fudosan Co dropped 2.1 percent. Mon, 20 May 2013 02:49:52 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E114Z20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E111N20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 20 (Reuters) - The Nikkei share average surged to a fresh 5-1/2 year high on Monday, buoyed by further weakness in the yen and as the Japanese government raised its assessment of the economy in May for the first time in two months. Signs of an improving U.S. economy and Wall Street's record closing high on Friday cemented the positive mood. The Nikkei climbed 1.5 percent to 15,360.81, the highest closing mark since December 2007. The broader Topix gained 1.3 percent to 1,269.51. Mon, 20 May 2013 02:09:52 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E111N20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E10I920130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Improved assessment of economy lifts mood * Interest rate sensitive stocks fall on rising yield * Report of Japan-India resuming talks on nuclear co-operation pact buoys By Ayai Tomisawa TOKYO, May 20 (Reuters) - The Nikkei share average surged to a fresh 5-1/2 year high on Monday morning, buoyed by further weakness in the yen and as the Japanese government raised its assessment of the economy in May for the first time in two months. Signs of an improving U.S. economy and Wall Street's record closing high on Friday cemented the positive mood in markets. By the midday break, the Nikkei had climbed 1.4 percent to 15,347.01 after rising as high as 15,356.31, the highest since December 2007. The Nikkei has gained 48 percent this year, and it has added more than 8 percent since May 9, when the dollar broke above the 100-yen level. The government's monthly report said that economy is gradually recovering, which was an upgrade from last month, when it said the economy was showing signs of recovery but still had some weak spots. The upgrade highlights the success of Prime Minister Shinzo Abe's policies, which combine stimulus spending with aggressive monetary easing to pump-prime the economy and are resulting in a sharp weakening of the yen. Exporters were in demand, with Toyota Motor Corp rising 2.2 percent, Sony Corp jumping 5.9 percent and Komatsu Ltd advancing 2.1 percent after the dollar broke above the 103-yen level on Friday buoyed by strong U.S. consumer sentiment data. "It's not like we don't think of the possibility of a pullback given the recent rises in the market, but both domestic and overseas economies are recovering, so the market will probably keep rising," said Fujio Ando, an analyst at Chibagin Securities. Adding to the positive mood was a Nikkei report that Japan and India are expected to agree at their summit meeting this month to resume talks toward a civilian nuclear cooperation pact. Manufacturers of nuclear reactors benefited on the report, with Toshiba Corp up 3.8 percent, Mitsubishi Heavy Industries 3.2 percent higher and Hitachi Ltd rising 3.4 percent. The broader Topix added 1.4 percent to 1,270.53. "Strength in the U.S. market and signs of a recovery in the U.S. economy are serving as a tailwind to the Nikkei's further gains," said Yutaka Miura, a senior technical analyst at Mizuho Securities. Upbeat data from the United States, Japan's major export market, has helped underpin the Nikkei in recent sessions. Data on Friday showed U.S. consumer sentiment rose to its highest in nearly six years, while a gauge of future economic activity rose in April to a near five-year high. Analysts said that investors are increasingly becoming confident about the prospects for higher Japanese corporate earnings for the fiscal year through March, as the weakening yen has improved the outlook for many exporters. They expect an average operating profit rise of 30 percent from the previous year, compared with the companies' conservative forecasts of a 20 percent increase in their operating profits. Many exporters have used assumptions of around 90-95 yen to the dollar. The dollar last traded at 102.80 yen, taking a breather from its recent sharp rally, but still not far off a 4 1/2 year high of 103.32 tapped on Friday. Bucking the market, interest rate sensitive stocks lost ground after the yield on the 10-year cash bonds rose two basis points to 0.820 percent on Monday. Mitsubishi Estate Co fell 1.7 percent, Mitsui Fudosan Co dropped 2.2 percent and Sumitomo Mitsui Financial Group shed 0.5 percent Sun, 19 May 2013 23:25:31 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E10I920130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E107C20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Nikkei hits highest since Dec 2007 * Exporters lead gains * Report of Japan-India resuming talks on nuclear co-operation pact buoys By Ayai Tomisawa TOKYO, May 20 (Reuters) - The Nikkei share average surged to a fresh 5-1/2 year high on Monday morning, as further weakness in the yen and signs of an improving U.S. economy bolstered prospects for higher Japanese corporate earnings in the current business year. In mid-morning trade, the Nikkei rose 1.1 percent to 15,298.92 after rising as high as 15,312.87, the highest since December 2007. Exporters led the charge, with Toyota Motor Corp rising 1.9 percent, Sony Corp jumping 5.5 percent and Komatsu Ltd advancing 2.2 percent after the dollar broke above the 103-yen level on Friday buoyed by strong U.S. consumer sentiment data. Adding to the positive mood was a Nikkei report that Japan and India are expected to agree at their summit meeting this month to resume talks toward a civilian nuclear cooperation pact. Manufacturers of nuclear reactors benefited on the report, with Toshiba Corp up 2.5 percent, Mitsubishi Heavy Industries 3.9 percent higher and Hitachi Ltd rising 4.2 percent. The broader Topix added 1.2 percent to 1,268.80. "Strength in the U.S. market and signs of a recovery in the U.S. economy are serving as a tailwind to the Nikkei's further gains. It's promising that the yen is staying below 100 yen to the dollar," said Yutaka Miura, a senior technical analyst at Mizuho Securities. He expects the Nikkei to stay comfortably above the 15,000-mark over the medium term. Upbeat data from the United States, Japan's major export market, has also helped to underpin the Nikkie in recent sessions. The Dow and the S&P 500 finished at fresh record highs on Friday after data showed Americans felt better about their economic and financial prospects in early May, with consumer sentiment at its highest in nearly six years, while a gauge of future economic activity rose in April to a near five-year high. Analysts said that investors are increasingly becoming upbeat about the prospects for higher Japanese corporate earnings for the fiscal year through March, as the weakening yen has improved the outlook for many exporters. They expect an average operating profit rise of 30 percent from the previous year, compared with the companies' conservative forecasts of a 20 percent increase in their operating profits. Many exporters have used assumptions of around 90-95 yen to the dollar. The dollar last traded at 102.83 yen, taking a breather from its recent sharp rally, but still not far off a 4 1/2 year high of 103.32 tapped on Friday. Sun, 19 May 2013 21:44:13 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E107C20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E100X20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 20 (Reuters) - The Nikkei share average extended its record-breaking run and hit a fresh 5-1/2 year high on Monday morning, as further weakness in the yen and signs of an improving U.S. economy bolstered prospects for higher Japanese corporate earnings in the current business year. The Nikkei rose 1.0 percent to 15,287.59, the highest since December 2007. The broader Topix added 1.0 percent to 1,265.21. Sun, 19 May 2013 20:07:18 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E100X20130520?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E00BQ20130519?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 20 (Reuters) - The Nikkei share average is set to extend its record-breaking run on Monday, as further weakness in the yen and signs of an improving U.S. economic outlook bolsters prospects for higher Japanese corporate earnings in the current business year. Wall Street's record closing highs on Friday is also expected to underpin the market, likely pushing it to a fresh 5-1/2 year peak. Market players said the Nikkei was likely to trade between 15,150 to 15,400 on Monday after rising 0.7 percent to 15,138.12 on Friday. During trade, the index rose as high as 15,157.32, the highest since December 2007. Nikkei futures in Chicago closed at 15,350, up 1.1 percent from the close in Osaka of 15,190. Analysts expects exporters to attract buying after the dollar broke above the 103-yen level on Friday buoyed by strong U.S. consumer sentiment data. The Dow and the S&P 500 finished at fresh record highs on Friday. Data showed Americans felt better about their economic and financial prospects in early May, with consumer sentiment at its highest in nearly six years, while a gauge of future economic activity rose in April to a near five-year high. "Strength in the U.S. market and signs of a recovery in the U.S. economy are serving as a tailwind to the Nikkei's further gains. It's promising that the yen is staying below 100 yen to the dollar," said Yutaka Miura, a senior technical analyst at Mizuho Securities. He expects the Nikkei to stay comfortably above the 15,000-mark over the medium term. Analysts said that investors are increasingly becoming upbeat about the prospects for higher corporate earnings for the fiscal year through March, as the weakening yen has improved the outlook for many exporters. They expect an average operating profit rise of 30 percent, compared with the companies' conservative forecasts of around a 20 percent increase in their operating profits. Many exporters have used assumptions of around 90-95 yen to the dollar. The dollar last traded at 102.83 yen, taking a breather from its recent sharp rally, but still not far off a 4 1/2 year high of 103.32 tapped on Friday. > Dow, S&P end at records, stocks mark 4th week of gains > Dollar tops 103 yen, a 4-1/2-year high, on robust U.S. data > Prices fall on improved consumer sentiment > Gold hits 1-month low as Fed pressured to end stimulus > Oil rallies for third day, shrugging off firm dollar STOCKS TO WATCH --Toyota Motor Corp Toyota is planning to increase production of lithium-ion batteries by six times, as the automaker prepares to eventually use them in its flagship Prius gasoline-electric hybrid cars, the Nikkei business daily reported on Sunday. --Panasonic Corp Sanyo Electric Co may cease to exist under a reorganization by Panasonic that includes global jobs cuts, Nikkei reported. --Sony Corp Sony plans to appoint Chugai Pharmaceutical Co Chief Executive Osamu Nagayama as chairman, the Nikkei reported. --Yahoo Japan Corp Yahoo Japan said late on Friday it suspected that up to 22 million of its user IDs may have been "leaked" and it detected an unauthorized attempt to access the administrative system of its web portal Yahoo Japan, the Kyodo news agency reported. --Mori Seiki Mori Seiki plans to take "sole control" of its German partner Gildemeister, according to a regulatory filing published on the Austrian competition authority's website on Friday. Sun, 19 May 2013 19:36:17 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0E00BQ20130519?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY0WN20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Japan stocks remain firmly footed in structural bull market - JPMorgan * Hitachi up on higher operating margin forecast * Nikkei posts 2nd-straight weekly gains By Ayai Tomisawa TOKYO, May 17 (Reuters) - The Nikkei share average rose on Friday with investors snapping up reflationary plays such as real estate stocks on the dips - posting a second week of gains supported by the benign effects of a weak yen. Agriculture-related stocks also lifted the market, with Prime Minister Shinzo Abe's second tranche of economic strategy expected to include growth in the farm sector when he speaks on Friday. The benchmark Nikkei gained 0.7 percent to 15,138.12, the highest closing level since December 2007. The index rose to as high as 15,157.32 earlier, the highest intraday level of the period. It gained 3.6 percent in the week. The index reversed from negative territory in the morning as investors bought back reflationary stocks such as real estate firms which were battered early this week when long-term debt yields rose. Market analysts said that many long-only investors have yet to catch up with the steep rises in the Japanese market, which has gained around 45 percent since the beginning of the year, propelled by the government's bold monetary easing and reflation drive. The index has gained 6.7 percent since last Thursday, when the dollar broke above the 100-yen mark. "Investors want to buy Japanese stocks if there is room for buying on the dips because they expect the market to rise higher," said Hikaru Sato, senior technical analyst at Daiwa Securities. Mitsubishi Estate Co gained 3.4 percent and Mitsui Fudosan Co added 2.4 percent. Farm-related stocks also attracted gains from retail investors on speculation that Abe's third economic reform pillar, which is growth strategy, will include bolstering agriculture exports. Agricultural chemical manufacturer Nihon Nohyaku Co surged 16 percent and tractor maker Iseki & Co jumped 17 percent. In the longer term, market players expect a further rise in the Japanese market as the weakening in yen has improved the profit outlook for many Japanese firms. Many exporters have used assumptions of around 90-95 yen to the dollar for the year ending March 2014 - outlooks which now look very conservative as the dollar is trading around 102 yen. "Japanese risk assets - equities and real estate - remain firmly footed in a structural bull market. We maintain our long-standing Topix target of 1,400 by end-2013, and add a new target of 1,800 to be hit by end-2014," wrote Jesper Koll, director of Japan equity research at JPMorgan in a note. "In our view, the powerful combination of relentless monetary stimulus, rising visibility of earnings, and concrete forward-looking corporate investment strategies is only just beginning to build momentum and will be sustained for multiple years." The Topix rose 0.6 percent to 1,253.24 in moderate volume, with 4.40 billion shares changing hands, compared to last month's average daily volume of 4.31 billion shares. But analysts said that due to the steep rises in the market over a short period of time, caution against overbought signs may again trigger a correction in the near term. Blue-chip exporters were mixed, with Panasonic Corp falling 0.7 percent, Toyota Motor Corp gaining 0.3 percent and Nikon Corp sliding 1.2 percent. But Hitachi Ltd rose 3.2 percent after it said that it will expand its global workforce over the next three years, while aiming to boost its annual operating profit margin to more than 7 percent from 4.7 percent. Fri, 17 May 2013 03:18:55 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY0WN20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY0XI20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 17 (Reuters) - The Nikkei share average rose on Friday, hitting a fresh 5-1/2-year high and posting two straight weekly gains supported by ongoing optimism on the back of a weak yen. The benchmark Nikkei gained 0.7 percent to 15,138.12 points, the highest closing level since December 2007. The index rose to as high as 15,157.32 earlier, the highest intraday level in the same time. The index reversed from negative territory in the morning as investors bought back heavily battered sectors such as real estate and consumer lenders. Fri, 17 May 2013 02:14:07 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY0XI20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY0GW20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Machinery data suggests companies are risk averse -analyst * Hitachi up on higher operating margin forecast * Nikkei set to post 2nd-straight weekly gains By Tomo Uetake TOKYO, May 17 (Reuters) - The Nikkei share average edged down for a second day on Friday as caution over the recent steep gains continued to spur profit-taking while a pullback in Wall Street soured investor sentiment. Still, ongoing optimism in the benefits of a weak yen kept the index near the 15,000 mark and the market is on track to log its second-straight weekly gain. The benchmark Nikkei eased 0.1 percent to 15,019.55 by the midday break, moving away from a 5 1/2-year intraday high of 15,155.72 reached on Thursday. U.S. stocks fell on Thursday when a Federal Reserve regional president said the central bank could begin easing up on its monetary stimulus this summer. Data released in the morning showed core machinery orders jumped a bigger-than-expected 14.2 percent in March, the quickest monthly pace in eight years. But investors remained cautious as manufacturers expect core orders to fall in the second quarter, reflecting companies' risk aversion and reluctance to invest. "For the time being, although sentiment for the long-term remains upbeat, companies' conservative stance on investment is souring the mood. And a pullback is not surprising given the steep rises recently and weak overseas stocks," said Toshihiko Matsuno, senior strategist at SMBC Friend Securities. Blue-chip exporters faltered, with Panasonic Corp falling 1.7 percent, Nissan Motor Co Ltd shedding 1 percent and Nikon Corp sliding 2.3 percent. But Hitachi Ltd rose 1.1 percent after it said that it will expand its global workforce over the next three years, while aiming to boost its annual operating profit margin to more than 7 percent from 4.7 percent. The broader Topix added 0.3 percent to 1,248.34, with volume at 60.4 percent of its full daily average of the past 90 trading days. Other notable decliners included Nippon Sheet Glass Co Ltd , which fell 8.1 percent after forecasting a net loss of 21 billion yen ($206 million) for the current business year through March, citing declining sales in Europe. It was the biggest loser in percentage terms on the main board. Analysts said that investors will stay on the sidelines and refrain from taking large positions before the weekend. "Technical signs show the market is overheated," said Kenichi Hirano, market analyst at Tachibana Securities. "I think the Nikkei will hover around 15,000 at least until the end of this month." The benchmark Nikkei has risen around 6 percent since the dollar punched through the 100-yen mark last Thursday, which has prompted some profit-taking. The index is currently trading about 7.7 percent above its 25-day moving average. The yen last traded at 102.29 yen to the dollar. Thu, 16 May 2013 23:32:18 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY0GW20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY08K20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Hitachi up on higher operating margin forecast * Machinery data suggests companies' risk averse stance - analyst By Ayai Tomisawa TOKYO, May 17 (Reuters) - The Nikkei share average fell for a second day on Friday as caution over the recent steep rises continued to spur profit-taking while a pullback in Wall Street soured investor sentiment, but ongoing optimism in the benefits of a weak yen kept the index near the 15,000 mark. The Nikkei shed 0.3 percent to 14,992.83 in mid-morning trade, moving away from a 5 1/2-year high of 15,155.72 tapped Thursday. Also limiting the losses is strong machinery orders released in the morning, in which core machinery orders jumped a bigger-than-expected 14.2 percent in March, the quickest monthly pace in eight years. The Topix gained 0.3 percent to 1,248.65. But investors remained cautious as manufacturers expect core orders to fall in the second quarter, reflecting companies' management's risk-averse stance on capital spending. "For the time being, although sentiment for the long-term remains upbeat, companies' conservative stance on investment is souring the mood. And a pullback is not surprising given the steep rises recently and weak overseas stocks," said Toshihiko Matsuno, senior strategist at SMBC Friend Securities. Exporters were weak, with Sony Corp falling 2.3 percent, Honda Motor Co shedding 0.7 percent and Panasonic Corp sliding 1.6 percent. But Hitachi Ltd bucked the weakness, rising 2 percent after saying that it will expand its global workforce over the next three years, while aiming to boost its annual operating profit margin to more than 7 percent from 4.7 percent. Analysts said that investors will stay on the sidelines and refrain from taking large positions before the weekend. U.S. stocks fell on Thursday when a Federal Reserve regional president said the central bank could begin easing up on its monetary stimulus this summer. The Nikkei has risen around 6 percent since the dollar punched through the 100-yen mark last Thursday, which has prompted some profit-taking. The yen last traded at 102.32 to the dollar. Thu, 16 May 2013 21:42:13 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY08K20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY00F20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 17 (Reuters) - The Nikkei share average fell for a second day on Friday as caution over the recent steep rises continued to spur profit-taking, while a pullback in Wall Street soured investor sentiment. The Nikkei shed 0.8 percent to 14,914.31, while the broader Topix dropped 0.6 percent to 1,238.26. Thu, 16 May 2013 20:07:03 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DY00F20130517?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DW4O220130516?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 17 (Reuters) - The Nikkei share average may pull back slightly on Friday after Wall Street weakened overnight, but the market is on track to log its second-straight weekly gain on the back of a depressed yen and optimism over the earnings outlook for Corporate Japan. Market players said the Nikkei was likely to trade between 14,900 and 15,100, while Nikkei futures in Chicago closed at 14,955 on Thursday, down 0.8 percent from the Osaka close of 15,070. U.S. stocks fell overnight, with the selling accelerating late in the day after a Federal Reserve official said the central bank could begin easing up on its monetary stimulus this summer. On Thursday, the benchmark Nikkei dropped 0.4 percent to 15,037.24 after earlier touching a fresh 5-1/2-year high of 15,155.72. The Topix shed 0.6 percent to 1,245.23 in heavy trade. "Yesterday's losses were not much and there still are technical signs that show the market is overheated," said Kenichi Hirano, market analyst at Tachibana Securities. "I think the Nikkei will hover around 15,000 at least until the end of this month." The Nikkei has risen around 6 percent since the dollar punched through the 100-yen mark last Thursday, which has prompted some profit-taking. The yen was quoted at 102.10 to the dollar in early Asian trade on Friday after falling to a 4-1/2-year low of 102.76 yen on Wednesday, according to Reuters data. > Wall Street slips after Fed comments, but Cisco surges > Dollar recovers vs euro and yen after Williams speaks > Prices gain on weak U.S. economic data, low inflation > Gold slides to 4-week low as investors sidestep bullion > Oil ends slightly up, dour U.S. economic data caps gains STOCKS TO WATCH -DAIWA SECURITIES GROUP INC Daiwa Securities Group plans to expand its retail network by 50 percent over the next few years to capitalise on "a historic turning point" for Japanese stocks, the head of Japan's second-biggest brokerage said on Thursday. -HITACHI LTD Hitachi said it will expand its global workforce by 24,000 people over the next three years, while aiming to boost its annual operating profit margin to more than 7 percent from 4.7 percent by shaving 400 billion yen ($3.9 billion) in costs. Thu, 16 May 2013 19:57:33 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DW4O220130516?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DX18920130516?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt * Japan stocks even more sensitive to forex moves - Nomura * Market expects further rises in Japanese stocks * Banks drop on weak forecasts, poor capex data * Olympus bucks weakness on rosy forecast By Ayai Tomisawa TOKYO, May 16 (Reuters) - Japan's Nikkei stock average fell on Thursday, reversing from a fresh 5-1/2-year high earlier in the session, after banks offered downbeat earnings guidance and investors took profits in the face of doubts prompted by the breakneck speed of recent rises. The market was also dented by weak company capital spending by over the March quarter. Official figures published on Thursday morning showed Japan's economy grew at a faster-than-expected 0.9 percent in January-March from the previous quarter, but capital investment dropped 0.7 percent - inverting the market's expected 0.7 percent rise. The benchmark Nikkei dropped 0.4 percent to 15,037.24 points, after rising as high as 15,155.72, a level last visited in January 2008. "It's just a healthy correction after such steep rises in Nikkei. The stocks had moved a little too fast," said Ryota Sakagami, chief equity strategist at SMBC Nikko Securities. "But it's difficult to predict how long the correction phase will last. There are very few investors who are pessimistic on the Japanese stocks in the medium to long term." Bucking the trend, Olympus Corp soared 18 percent and was the fifth biggest percentage gainer after the camera and endoscope maker forecast a 274 percent rise in net profit at 30 billion yen ($293 million) for the current business year through March. Japan's top three banks, however, forecast weaker annual earnings on Wednesday as aggressive monetary easing squeezes them out of the profitable government bond trade. Mitsubishi UFJ Financial Group dropped 3.6 percent, Mizuho Financial Group shed 3.1 percent and Sumitomo Mitsui Financial Group fell 3.0 percent. Market observers said that the central bank's plan to purchase 70 percent of Japanese government bonds, part of its aggressive monetary easing, would be negative for banks' profits. "If banks have strong lending businesses that can make up for the damage on JGB trading gains, there should be no problem. But company managements' risk-averse stance on capital spending indicates weak profits for banks," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. The Topix shed 0.6 percent to 1,245.23 in heavy trade, with 5.14 billion shares changing hands, a far larger than last month's average daily 4.31 billion shares. LONGER TERM PICTURE INTACT The short-term pullback has been widely expected. But in the longer term market analysts expect further rises in the Japanese market. U.S. star bond investor Jeffrey Gundlach, who heads DoubleLine Capital LP, said on Wednesday that the benchmark Nikkei will hit 17,000 before year-end. Nomura Securities, which said that Japanese equities have become more sensitive to exchange rates once the dollar broke above 100 yen last week, predicted the Nikkei could reach 16,000 if the dollar steadily heads toward 105 yen. The index has gained about 45 percent this year helped by Prime Minister Shinzo Abe's bold monetary easing and expansionary policies. On the back of strong jobs data in the United States and the dollar trading above the 100-yen mark, the Nikkei had already broke above 15,000, the level investors once had expected to see around mid-June. The yen dropped to 102.76 yen against the dollar on Wednesday, its lowest level since October 2008. The Japanese currency last traded at 102.39 to the dollar. Thu, 16 May 2013 02:45:30 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DX18920130516?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DX16Z20130516?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt TOKYO, May 16 (Reuters) - Japan's Nikkei stock average fell on Thursday, reversing from a fresh 5-1/2-year high earlier in the session, after banks offered poor earnings guidance and as investors pocketed recent gains amid caution over market momentum. The benchmark Nikkei dropped 0.4 percent to 15,037.24 points, after rising as high as 15,155.72, a level last visited in January 2008. The Topix shed 0.6 percent to 1,245.23. Thu, 16 May 2013 02:08:13 -0400 http://mobile.reuters.com/article/tokyoMktRpt/idUSL3N0DX16Z20130516?rpc=932&ca=rdt&feedType=RSS&feedName=tokyoMktRpt